NF had a long liquidation profile in last session with supply appearing at close at highs..Not accepting above 22150 next session expected a test of 22060-22040/22015 and more,which they did in first session then bounced to clear 22150 in second session..Above 22150 marked for 22180/22210-22220 which they probed in second session then closed around VWAP.
Failed auction at low.
Stopped 5days of one time frame down after failing to clear 22000-22020 zone 4th day in a row.
Neutral center close.Again sellers/profit booking seen at top which pushed for close at VWAP zone..Sellers need to defend 22165-22190 zone and push below 22120 next session to get 22080-22070/22040/22015 and below that more possible towards 21980-21965/21930.
Not able to stay below 22120 and clearing 22165 could test 22190/22220 then short squeeze move higher possible towards 22260/22290 then reject else more upside towards 22325/22360-22370 and above.
Charts and data :
Notes :
a) Check glossary page in website if any of the terms used in the post are not clear.
b) If images are not clear, click on them for enlarged view.
Commentaires